Wow! Can you believe we are already in the throes of 2009?!!! Exciting!
There are still people out there buying and selling and everyday people ask me what is going on in the real estate market in Belfair and Allyn?
I love reviewing the stats for the different areas and sharing that information with each and everyone who asks! Today we are going to look specifically at the real estate market in Lakeland Village in Allyn, WA for 2008.
ACTIVE HOMES FOR SALE IN LAKELAND VILLAGE: (these are what a seller is up against for competition and what is available for buyers to purchase).
At the end of 2008 there were a total of 35 active homes for sale listed with realtors in LakeLand Village.
The average days on the market for these homes is 280 days. The average asking (list price) for these homes is $348,503.The average $$'s per square foot of these homes was down to $155.18 (this number is determined by the list price divided by the square footage of the home - heated living space only and does not include the garage). It is another number to look at to see how competitive a seller is against the other comparable homes. A seller needs to be the BEST PRICED HOME OUT THERE AGAINST THE COMPETITION in today's market in order to get sold!
UNDER CONTRACT (The buyer and seller have mutually agreed upon terms for the sale of the home): (This is what is happening right now - what buyers are looking for and making offers on).
There was only 1 home with an offer on it at the end of the year and it was a contingency offer. This means that the Buyer must sell their home first in order to move forward in the purchase of the new home.
SOLD HOMES IN LAKELAND VILLAGE FOR THE YEAR OF 2008: (These are the FACTS of what a buyer is willing to pay for a home.)
LakeLand Villages homes that were closed (sold) in 2008 were (13) total. (2007 there were a total of 29 sold).
The Average price for sold homes for 2008 was $307,688.00. 2007 the average price for solds was $335,017. (- 8.2% from 2007 overall).
Average days on the market for these homes was 275 days. 2007 average days on the market was 192. Also a substantial difference.
The average dollars per sq ft sold in 2008 was $161.19. For 2007 it was $166.21
What does all this mean? It means that buyers still have MANY choices in the LakeLand Village ReaL Estate market.
There are a limited number of buyers currently purchasing as the stats show - 1.62 homes sold per month in LakeLand Village in 2008. At that rate it would take 21 months to sell (for the market to absorb these homes) all of the current homes for sale in LakeLand Village.
So what will make those buyers come to your home and want to write an offer? PRICE! Not the location, not the amenities, not the upgrades - THE PRICE. This type of market is all about price. A buyer will compromise on location, upgrades and amenities for a better PRICE!!
This type of market takes "aggressive" pricing and marketing. Which means a seller needs to revisit his goals and strategies OFTEN with his/her real estate agent.
If you do not have an agent and are thinking about selling your home in this market, give me a call - let's look at the facts and your goals and see where you would be sitting in the mix of all this. I offer a FREE NO OBLIGATION market analysis tailored specifically for your goals and your home.
If you would like more information on buying or selling real estate in LakeLand Village, Allyn & Belfair, I am here to help you! Just give me a call, drop me a line or stop on in! I also have experience with short sales and foreclosed on properties (bank owned). I believe in building relationships for life. YOUR SUCCESS IS MY SUCCESS!
~~Valerie~~ Lakeland Village, Belfair & Allyn Real Esate Specialist~~
Windermere Peninsula Properties
my email: vlsallyn@windermere.com
my website: www.valspaulding.mywindermere.com
my blog: Localism and Active Rain
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